Jeffries Group to shed 10% of employees
Jefferies & Co. Inc., a global investment-banking and institutional-securities firm based in New York, plans to cut 10% of its employees, according published reports.
Jefferies & Co. Inc., a global investment-banking and institutional-securities firm based in New York, plans to cut 10% of its employees, according published reports.
Cuts will take place globally and leave about 245 people out of a job, a source told Bloomberg, citing investment-banking revenue declines as the reason for reduction.
Jefferies experienced a net loss of $31.3 million in the third quarter.
The firm also created new positions and brought on several managing directors in October.
A spokesman at Jefferies was not available to comment on which jobs will be affected.
Learn more about reprints and licensing for this article.
